Auditor

Full Job Description

This position is located in the Examinations Branch of the Division of Clearing and Risk (DCR).

The Examinations Branch plans and executes examinations of derivatives clearing organizations (DCOs) to determine compliance with the Commodity Exchange Act (Act) and Commission regulations, conducts financial, operational and risk surveillance of futures markets intermediaries and clearing organizations to monitor the actual and potential implication of market events or systems events.

Basic Requirements: Degree: accounting, auditing; or a degree including auditing courses in a related field such as business administration, finance, or public administration that included or was supplemented by 24 semester hours in accounting.

The 24 hours may include up to 6 hours of credit in business law.

OR Combination of education and experience: at least 4 years of experience in accounting, or an equivalent combination of accounting experience, college-level education, and training that provided professional accounting knowledge.

The applicant's background must also include one of the following: Twenty-four semester hours in accounting or auditing courses of appropriate type and quality.

This can include up to 6 hours of business law; A certificate as Certified Public Accountant or a Certified Internal Auditor, obtained through written examination; or Completion of the requirements for a degree that included substantial course work in accounting or auditing, e.g., 15 semester hours, but that does not fully satisfy the 24-semester-hour requirement of paragraph A, provided that (a) the applicant has successfully worked at the full-performance level in accounting, auditing, or a related field, e.g., valuation engineering or financial institution examining; (b) a panel of at least two higher level professional accountants or auditors has determined that the applicant has demonstrated a good knowledge of accounting and of related and underlying fields that equals in breadth, depth, currency, and level of advancement that which is normally associated with successful completion of the 4-year course of study described in paragraph A; and (c) except for literal nonconformance to the requirement of 24 semester hours in accounting, the applicant's education, training, and experience fully meet the specified requirements.

In addition to these basic requirements, you must also possess one year of specialized experience at least equivalent to the next lower grade level in the Federal service.

CT-14 Level: To qualify for the CT-14 level you must have at least one year of specialized experience equivalent to the next lower grade (GS/CT-13 level).

Specialized experience is defined that through which one has gained experience: Evaluating the adequacy of a financial entity's risk management program to analyze and evaluate the actual and potential impact of various scenarios on DCOs and their clearing members.

Applying expert-level knowledge of accounting and/or auditing principles (such as GAAP or IFRS) sufficient to conduct difficult assignments involving interfaces and interrelationships between and among programs.

Skill in applying expert-level financial and risk methodologies to develop new approaches in conducting financial and risk surveillance of DCOs. Major Duties:

• As an Auditor you will participate in the full range of the Branch's oversight and examination functions and activities that include: Conducting oversight and examinations of swaps dealers, major swaps participants, and futures registrants such as futures commission merchants, introducing brokers, commodity pool operators, commodity trading advisors, retail foreign exchange dealers, etc., to assess their compliance with the Act and Commission financial regulations, including data reporting and compliance obligations of commodity pool operators and commodity trading advisors; Conducting oversight and examination of self-regulatory organizations to evaluate their audit and financial surveillance programs over member firms, including supervision of such firms' compliance with Commission requirements; Executing financial surveillance activities including reviews of financial reports and other financial data submitted by all categories of registrants, onsite review of issues disclosed by such reviews, and follow up of notices received from registrants, self-regulatory organizations, and public accountants relating to financial issues; Conducting surveillance of introducing brokers, commodity pool operators, and commodity trading advisors through monitoring of the supervision thereof conducted by the National Futures Association (NFA), a registered futures association, through analysis of information maintained by NFA, and through direct inquiries as appropriate; Preparing reports of examination that set forth the findings, conclusions, and recommendations, and communicating results to appropriate officials, and preparing other work product such as examination guides, workpapers, and supporting documentation; Interpreting Commission regulations with respect to the financial integrity of Commission registrants and customer protection, including the segregation of customer funds by such registrants; and Providing support to the Capital, Margin, and Segregation Branch in its review of capital and margin requirements for swap dealers, major swap participants, and applicable futures registrants.